No. 2096 approving an amendment to the SSDA of the COSB and related matters

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(00� WHEREAS, the Commission has complied with the notice provisions of Section 17.5(a) of the Act; and WHEREAS, at the hearing held by the Commission on the 13`h day of September, 2004, at 8:00 a.m., at the office of the Commission located at Room 1308, County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana, the Commission heard all persons interested in the proceedings relating to the amendment of the Plan and the designation of Allocation Area No. 3 as a separate allocation area and received 0 written remonstrances and objections, if any, and such other evidence presented; NOW THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, governing body of the City of South Bend, Indiana, Redevelopment District and the City of South Bend, Indiana, Department of Redevelopment: 1. The Commission finds that designating Allocation Area No. 3 as an allocation area for purposes of Section 39 of the Act and amending the Plan as described herein, are reasonable and appropriate when considered in relation to the Plan and purposes of the Act. 2. The Commission finds that the actions being taken in this Resolution, including the amending of the Plan as described herein, conform to the comprehensive plan of the City. 3. The Commission hereby finds and determines that for rP u oses of the P allocation provisions of Section 39 of the Act, the Allocation Area No. 3 shall constitute an allocation area for purposes of the Act and this Resolution to separately account for the Project Tax Increment Revenues. The base assessed value, as described in the Declaratory Resolution, shall not change as a result of this amendment. 4. The Commission hereby approves of the amending of the Plan to include in the Plan certain local public improvements to facilitate the Project. The President is hereby authorized to approve of the changes to the Plan to effect the amendment approved herein. 5. There is hereby created and established the Allocation Area No. 3 Fund (the "Allocation Fund "), and the Project Tax Increment Revenues received by the Commission shall be deposited into the Allocation Fund. 6. The Secretary is hereby directed to file a certified copy of the Plan, as amended, with the minutes of this meeting. 7. The Secretary is directed to record this Resolution pursuant to the requirements of Ind. Code § 36- 7- 14- 17.5(g). 8. This Resolution shall be in full force and effect after its adoption by the Commission. -2- SBIMANI 192249v1